Penalty for Under-Reporting of Income to Be Imposed in Assessment Order From AY 2027-28

Last updated: 05 February 2026

The Government has proposed a major overhaul in the manner penalties for under-reporting and misreporting of income are imposed under the Income-tax law. As per the proposed amendments, penalty under Section 270A will now be levied directly within the assessment order itself, instead of being initia

You have reached daily limit of 2 Free News. To view this or other News please subscribe to CCI PRO :

GST Plus

Stay updated! Stay ads free

Browse CAclubindia ads free.
Latest updates on WA.
Daily E-Newsletter and much more.

CCI PRO annual subscription :

Original Price : INR 2999/-

Offer Price : INR 1999/-

Duration : 1 year
(Prices Inclusive of GST)


Know More

Note: If you are a PRO member already, please click here to login (for ad free experience)
Summarize this with AI
ChatGPT Perplexity Claude Google AI Grok

CCI Pro

Category Union Budget   Report

Comment   Share
  1269 Views
Comments

Recent News :

  1. Rajinikanth Gets Major Tax Relief as CESTAT Quashes Service Tax Order in Property Leasing Dispute
  2. Income Tax Rules 2026: Financial Institutions Must Report Crypto and Digital Currency Holdings
  3. ED Arrests Two CAs in Rs 641 Crore Cyber Fraud and Money Laundering Case Under PMLA
  4. Charitable Trusts Oppose Mandatory Irrevocable Clause for Tax Exemption Registration
  5. Himachal CM Flags Rising Budget Pressure, Seeks Restoration of Revenue Deficit Grant
  6. BCAS Flags Concerns Over Finance Bill 2026 Proposals on SGB Taxation, Dividend Rules and TDS Norms
  7. GST Regime Has Eroded States' Financial Freedom: 7th State Finance Commission Chairman
  8. New Draft Format for TDS/TCS Book Adjustment: Full Details, Applicability & Compliance Guide
  9. Fino Payments Bank Clarifies GST Probe, Denies Any Tax Evasion
  10. Rahul Gandhi Demands Rollback of Tax on Disability Pensions, Seeks Higher ECHS Budget from FM Sitharaman

More »


Popular News




Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Browse by Category